Is it time the Internet giants were regulated

The plan complained that some digital businesses “are transforming into super-nodes that can be of systemic importance” for the rest of the economy. “Only a very limited part of the economy will not depend on them in the near future.”

The document highlights the fact that closed platforms are already hurting EU companies. “While EU app developers account for 42% of the global consumer app revenue, the overall EU trade balance of the app economy is negative (€128m [£92m]), mostly due to the app platform fees that EU developers pay on revenue earned to North American platform owners,” it says.

http://www.wsj.com/articles/eu-considers-creating-powerful-regulator-to-oversee-web-platforms-1429795918

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